Peter Lewis: A fast moving and topical business and finance show.
A fast moving and topical business and finance show bringing you breaking business and economic news and financial market updates. Presented by former CEO and investment bank global trading head Peter Lewis, with over 30 years' industry experience. Join Peter and his expert guests for analysis and discussion on the day's top business stories live every weekday morning 8 to 8:30 a.m. on RTHK Radio 3. We have a podcast to download after the show and you can also listen through the RTHK Radio 3 website live or later in the day. We welcome your questions, comments and feedback to read out in the show. You can email us at email@example.com, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
The US has agreed to suspend this week’s tariff hikes on Chinese imports after two days of trade talks in Washington. An interim "phase one deal" between the US and China was announced by President Trump on Friday that would include increased agricultural purchases and address financial services and technology theft.
The US Federal Reserve announced Friday that it would be adding assets to its balance sheet once again in order to avoid a repeat of the freeze in short-term lending markets that occurred in September. The Fed will buy US$60bn a month of Treasury bills at least until the middle of next year.
The more than year long slump in China’s car market has continued. The China Passenger Car Association reported Saturday that mainland passenger car sales fell 6.6% y/y in September, down for the 3rd straight month, and for 15 out of the last 16 months.
A proposal to set up an offshore yuan-denominated “Nasdaq” in Macau has been submitted to Beijing for consideration. The Monetary Policy of Macau said it was conducting a feasibility study and China’s central government might give its blessing to the plan by mid-December, the 20th anniversary of the city’s handover to China.
On today’s Money Talk are Alex Wong of Ample Capital and Le Xia from BBVA Research. Providing the view from the mainland is Brock Silvers at Kaiyuan Capital.
14/10/2019 - 8:09 Business and Market Discussions
Alex Wong, Director of Asset Management at Ample Capital, comments that the interim US-China "phase one" trade deal signals some progress but will not have a significant impact on business investment.
Le Xia, Chief Economist for Asia at BBVA Research, expects that if the relationship between the US and China improves, it may lower the Hong Kong protestors' incentive to take part in radical demonstrations.
14/10/2019 - 8:24 View From China
Oil prices have surged following the drone attack on two Saudi Arabian oil facilities over the weekend, which have halved the kingdom’s oil producing capabilities and knocked out more than 5% of the world’s supply. Brent crude oil jumped 20% at one point but trimmed gains after President Donald Trump authorised a release of oil supplies from the US Strategic Petroleum Reserve to help stabilize markets.
Credit rating agency Moody’s has cut its outlook for Hong Kong's credit rating to negative from stable but maintained its current rating. Moody's said the change in outlook reflects the increasing risk of "an erosion in the strength of Hong Kong's institutions" amid the protests.
Norman Chan, chief executive of the Hong Kong Monetary Authority, said yesterday there was no evidence of capital flight due to the protests and Hong Kong’s reserves are big enough to withstand any attack by short sellers on the territory’s financial system.
Industrial output growth in China has fallen to the lowest level since 2002, rising 4.4% y/y in August. Retail sales and fixed-asset investment also missed expectations. Premier Li Keqiang warned that maintaining growth of 6% or more would be "very difficult."
On today’s Money Talk, we’re joined by Connie Bolland of Economic Research Analysis and Brad Gibson from Alliance Bernstein. Providing the view from Japan is Naoyuki Yoshino of the Asian Development Bank Institute.
17/09/2019 - 8.08am Business and Market Discussions
Connie Bolland, founder and chief economist of Economic Research Analysis, thinks the surging oil price poses a significant problem to the global economy in the short term as Saudi Arabia is the world’s biggest exporter.
Though Moody’s has cut its outlook for Hong Kong's credit rating, Brad Gibson from Alliance Bernstein says Hong Kong’s corporates and institutions access to the capital markets remains fully open.
17/09/2019 - 8.23 am View from Japan